MILLS MUSIC TRUST

MILLS MUSIC TRUST (MMTRS) was established on December 3, 1964, to acquire the right to receive a deferred contingent purchase price payment. This payment, referred to as the "Contingent Portion," originated from the sale of the Mills Music, Inc. music and lyric copyright catalogue (the "Catalogue") on December 5, 1964. The Trust receives these payments until the end of the year in which the last copyright in the Catalogue expires and cannot be renewed. Currently, EMI Mills Music Inc. ("EMI"), the owner of the copyrighted materials in the Catalogue, is responsible for paying the Contingent Portion amounts to the Trust. Sony/ATV Music Publishing LLC ("Sony/ATV") acts as the administrator and manager for EMI and the Catalogue. HSBC Bank, USA, N.A. serves as the Corporate Trustee, and Lee Eastman is the Individual Trustee. The Trust's sole activity is to receive quarterly Contingent Portion payments from EMI. These payments are based on the royalty income generated by the Catalogue. After deducting or withholding for expenses and liabilities, the Trust distributes the remaining amounts to the registered owners of Trust certificates, known as "Unit Holders," who hold interests in the Trust ("Trust Units"). The Trust is prohibited from engaging in any other business activities.